HOUSTON, Texas -- Houston-based fashion retailer Charming Charlie has filed for Chapter 11 bankruptcy protection.
Known for its colorful jewelry and accessories, the chain has not officially announced store closing details or dates. Other media outlets report all 261 stores will close. There are currently 12 in the Houston area.
Charming Charlie was founded in 2004 by Houston native Charlie Chanaratsopon.
In 2016, Chanaratsopon was listed on Forbes' list of America's Richest Entrepreneurs Under 40 with a net worth of $450 million.
Chanaratsopon stepped down as CEO in the fall.
In December of 2017, the retailer announced they had filed for bankruptcy amid underperforming stores.
As of Thursday, the store's website is unable to take orders.
The new filing is subject to court approval.
ABC13 Eyewitness News has reached out to Chanaratsopon for a comment.
WATCH: ABC13 interview with Houstonian Charlie Chanaratsopon